QUESTION 22 Which of the following is a disadvantage when a business accepts credit cards or debit cards from customers? O A. The business pays a processing fee. OB. The business bears the risk of nonpayment by the customer. OC. The business checks customers' credit ratings. O D. The business bears the responsibility of collecting cash from the customer.
QUESTION 22 Which of the following is a disadvantage when a business accepts credit cards or debit cards from customers? O A. The business pays a processing fee. OB. The business bears the risk of nonpayment by the customer. OC. The business checks customers' credit ratings. O D. The business bears the responsibility of collecting cash from the customer.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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#22
Transcribed Image Text:Under the direct write-off method, a customer who doesn't pay their bills is written off with what journal entry?
OA. Debit Accounts receivable and credit bad debt expense
O B. Debit bad debt expense and credit Cash
OC. Debit bad debt expense and credit Accounts receivable
O D. Debit Lost revenue and credit Accounts receivable
QUESTION 22
Which of the following is a disadvantage when a business accepts credit cards or debit cards from customers?
O A. The business pays a processing fee.
O B. The business bears the risk of nonpayment by the customer.
OC. The business checks customers' credit ratings.
O D. The business bears the responsibility of collecting cash from the customer.
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